Billionaires

Senator Elizabeth Warren who is sometimes considered a candidate for the presidency is the quintessential populist as her main theme is to take money from the rich. In a recent speech she was upset with the government charging too much interest on student loans. She wanted to lower the interest rate to 3.9% but that would cost the government 66 billion dollars over the next 6 years. When asked how she would cover the deficit she responded by taxing billionaires. Here is what she told the young people at a recent rally. Though the proposal is currently dead, Warren advised the young crowd to push lawmakers to bring it up again.“Ask them why they think they work for billionaires instead of young people trying to build a future,” Warren said. This hit the rich is always popular with most people but not much thought was put into the idea. Specifically there are 490 billionaires in the country so this would require that each of them put up 20 million dollars each year for the next 6 years. I am sure they could afford this but I am equally sure that Senator Warren had no idea what she was asking. It just sounds good to go after billionaires and people just eat it up.